Describe the four types of student-loan repayment plans
What will be an ideal response?
Answer: Standard repayment (10-year term; you pay the lowest amount of interest): this is the automatic repayment plan, unless you choose another plan.
Extended repayment (10- to 30-year term): additional number of payments and additional interest paid.
Income-based repayment (25-year term of payments before loan forgiveness): based on a percentage of discretionary income, not the amount owed; yields low monthly payments but additional interest paid.
Graduated repayment (25- to 30-year term of payments before loan forgiveness): starts low, with monthly payment increasing every two years; yields low monthly payments but additional interest paid.
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With memos, an in-house audience is usually a
A) Specialist. B) Semi-specialist. C) Lay audience. D) All of the above. E) A and B.
Discounts on auto insurance have been offered for which of the following reasons?
A) Away at school driver B) Belonging to a car pool C) Good driving record D) Discounts have been offered for all of the above reasons.